Tashkent, Uzbekistan (UzDaily.com) -- On 7 February, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov in the format of a video conference discussed with the President of the Islamic Development Bank (IDB) Bandar Hajjar a number of issues related to the current state implementation of joint projects and initiatives, as well as expansion of mutually beneficial partnership in the near future.

During the dialogue, the leadership of the IDB noted the timeliness and effectiveness of measures to ensure the protection of public health and the preservation of economic activity, undertaken in Uzbekistan under the leadership of the Head of State, and which were highly appreciated by the international community.

Having considered the progress of the implementation of ongoing projects, the parties discussed the prerequisites for expanding the IDB investment portfolio in Uzbekistan through the development of new socially significant projects in the fields of education and health.

Also, within the framework of the agenda, practical issues related to the organization and holding of the 46th Annual Meeting of the IDB Board of Governors in Uzbekistan this year were considered. The parties agreed to accelerate the formation of relevant working groups to begin joint work on preparation for the meeting and the development of a separate "road map", including specific events, deadlines and responsible executors.

In this context, it was announced that the management of the Bank is currently considering the prospects for organizing the visit of the President of the IDB to Uzbekistan in June this year to conduct a road show dedicated to broad coverage of the upcoming meeting in international media and mass media.

It is expected that the event will be attended by about 3 thousand representatives of 57 member countries of the Bank, as well as international organizations and financial institutions. It was noted that this initiative will attract the attention of the general public to the reforms being carried out in Uzbekistan, as well as expand the scale of cooperation with the IDB Group and increase its investment portfolio.

During the negotiations, special attention was paid to the implementation of the project for the construction of the Mazar-i-Sharif-Kabul-Peshawar trans-Afghan railway. The President of the IDB confirmed the compliance of the project with the Bank’s policy in the field of regional cooperation, aimed at increasing the interconnectedness of the economies of the countries of the region, integrating markets and reducing the cost of cargo transportation by expanding and modernizing transport and logistics systems. It was emphasized that its successful implementation will become a key factor in sustainable economic development of the regions of Central and South Asia, improving the life of the population and reducing poverty in the countries participating in the project.

As a result of the negotiations, an agreement was reached on expanding bilateral cooperation by mobilizing resources of the IDB subsidiaries - the Islamic Corporation for the Development of the Private Sector, the International Islamic Trade and Finance Corporation and the Islamic Corporation for Investment Insurance and Export Credit. It was also agreed that the parties will consider the possibility of opening a regional office of the IDB in Uzbekistan as the epidemiological situation stabilizes.